News
Business Rates Revaluation
Everyone is probably only too aware of the burden that rates can impose on a business; and the Revaluation coming into force on 1st April will not improve the situation for many. During March and April, rate demands will be landing on doormats and, although a good proportion of occupiers will see their bills come down, just as many will see an increase, and be wondering if anything can be done.
The answer is often yes and, even if your bill is reducing, this does not mean that the Rateable Value, intended to be a reflection of rental value, is fair. The date of valuation is 1st April 2008, just at the time when the property market was taking a tumble. This made it very difficult for the Valuation Office Agency (the Government body responsible for the Revaluation) to estimate values, and only time will tell if their evidence was good enough.
This is a specialist area, and it is a good idea to engage a professional firm to look after your interests. The rates industry has seen its reputation tarnished by less-than-scrupulous operators, who promise the earth, and too often fail to deliver. Few reputable firms will charge a fee unless they are successful, and you should beware of a “no win, no fee offer that suddenly turns out to include an administration fee of several hundred pounds.
Look for members of the Royal Institution of Chartered Surveyors who specialise in rating matters. One we can recommend is Paddisons, Chartered Surveyors. They are based in Northampton, the heart of the old shoe industry, with offices also in Saffron Walden and Nottingham. They cover England and Wales, and spend almost all of their time dealing with rating matters.
There is no charge for initial advice on what to do, and fees are only paid on successful completion of their work, and then only if money is saved for you.
In the first instance, contact David Webb, on 01604-250800, or e-mail , for advice on what help may be available.
For an indication of what your bill will be for the coming year, go to http://www.voa.gov.uk, and follow the links through Rating Lists.
